What is the value today of a money machine

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What is the value today of a money machine that will pay $1,437.00 per year for 18.00 years? Assume the first payment is made 5.00 years from today and the interest rate is 15.00%.

Derek will deposit $7,848.00 per year for 22.00 years into an account that earns 5.00%, The first deposit is made next year. He has $14,374.00 in his account today. How much will be in the account 44.00 years from today?

Derek borrows $251,932.00 to buy a house. He has a 30-year mortgage with a rate of 4.03%. After making 134.00 payments, how much does he owe on the mortgage?

Reference no: EM133119356

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